Cachet Hotel Group Takes Full Ownership of URBN Brand in Shanghai, China
Significant Renovations Made to Heighten Traveler Experience
Cachet Hotel Group (CHG), announced today the completion of the acquisition of URBN Hotel inShanghai by CHG's co-founderRobert Roche. The transaction was announced as an all cash buyout for an undisclosed sum.
In a recent statement, CHG's CEO Alexander Mirza indicated, "URBN Hotel has been one of the most awarded hotels in Shanghai, this acquisition presents a great opportunity for CHG to expand on its reputation and ensure we expand this brand throughout China and South East Asia."
Under CHG, the URBN acquisition helps carry out long term strategic development objectives of the brand. URBN Hotel has undergone renovation to their guest rooms under the creative direction of CHG's celebrity fashion designer, Jay Godfrey, and will gradually reopen for business starting January 25, 2014.
About Robert W. Roche:
Robert Roche is an entrepreneur and attorney. His almost 30 years of experience, living and doing business in Japan and China, includes the start-up and/or management of over 40 companies as well as numerous philanthropic initiatives and civic contributions around the world.
In 1993 he co-founded Oak Lawn Marketing, now the largest infomercial company in Japan. In 1997, Robert co-founded Acorn International, which has since become the largest TV shopping company in China, and Roche currently serves as the company¹s Executive Chairman.
Mr. Roche was named by President Obama to the Advisory Committee for Trade Policy and Negotiations of the Office of the United States Trade Representative (USTR).
About Cachet Hospitality Group:
Cachet Hospitality Group (CHG) is a lifestyle hospitality branding and management company with offices in Los Angeles, Shanghai and Bangkok. CHG's mission is to be the leading innovative and socially responsible hospitality company in Asia Pacific and North America, with recent expansions into Cabo San Lucas and New York City. With numerous projects under development, CHG is focused on establishing properties in Greater China, Southeast Asia and the Americas. For more information, please visit www.cachethotelgroup.com.